Union Budget 2024

Expectations from Union Budget 2024 for the EV Battery & Recycling Sector

Admin

Jan 31, 2024 — 1 min read

Mr. Rajesh Gupta, Founder & Director at Recyclekaro on the expectation from the Union Budget 2024:

"The upcoming budget holds a pivotal role in steering India towards a sustainable future by fostering the growth of battery recycling. The circular economy's cornerstone, battery recycling, addresses mineral scarcity and reinforces our supply chains, paving the way for self-sufficiency in battery materials. While regulations like the Electronics Waste Management Rule and Batteries Management Rule have strengthened the recycling industry, persistent challenges call for solutions. To further empower this sector, streamlined recycling policies and incentives for pioneering waste management solutions are imperative.

The rapidly growing adoption of electric vehicles is a catalyst for the EV battery recycling industry. Initiatives such as FAME, PLI, and other incentives should be amplified to fuel this momentum. A tailored PLI scheme dedicated to lithium-ion battery recycling will be a game-changer, amplifying the sector's growth while advancing India's sustainability goals. As we approach the budget, investing in these strategic measures will not only invigorate the recycling industry but also cement India's position as a global leader in sustainable practices."

Vedanta Aluminium strengthens biodiversity with PwC Partnership

Vedanta Aluminium, India’s largest aluminium producer and a leader in sustainable development, has reinforced its position as an environmental leader by spearheading impactful biodiversity and carbon reduction initiatives in Odisha through a strategic partnership with PwC India. This collaboration builds on Vedanta Aluminium’s long-standing commitment to sustainable development

SWITCH Mobility Partners with Vertelo

SWITCH Mobility (SWITCH) Automotive Ltd., a global manufacturer of electric buses and light commercial vehicles from the Hinduja Group and a subsidiary of Ashok Leyland, has entered into a strategic Memorandum of Understanding (MoU) with Vertelo. This MoU will enable SWITCH to deploy 1,000 electric vehicles across India over

Amara Raja Infra commissions India’s first Green Hydrogen fuelling station for NTPC

Amara Raja Infra, part of the $2 billion Amara Raja Group, has completed setting up India’s first green hydrogen fuelling station in Leh, Ladakh for NTPC Ltd. The landmark project will enable emission-free transport in and around Leh – making India among the few countries to take the lead in

Maruti Suzuki attains 3 million cumulative exports

Maruti Suzuki India Limited (MSIL), India’s leading passenger vehicle company in domestic market and exports has attained the milestone of 3 million cumulative exports. The 3 millionth landmark vehicle was part of a shipment of 1,053 units that sailed from Gujarat’s Pipavav port yesterday comprising models like

Read more

Vedanta Aluminium strengthens biodiversity with PwC Partnership

SWITCH Mobility Partners with Vertelo

Amara Raja Infra commissions India’s first Green Hydrogen fuelling station for NTPC

Maruti Suzuki attains 3 million cumulative exports